Dime Community Bancshares (NASDAQ:DCOM) Director Basswood Capital Management, L Sells 2,631 Shares of Stock

Dime Community Bancshares, Inc. (NASDAQ:DCOM) Director Basswood Capital Management, L sold 2,631 shares of the company’s stock in a transaction on Thursday, October 29th. The shares were sold at an average price of $42.38, for a total value of $111,501.78. Following the completion of the transaction, the director directly owned 5,133 shares in the company, valued at approximately $217,536.54. The trade was a 33.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Basswood Capital Management, L also recently made the following trade(s):

• On Wednesday, October 28th, Basswood Capital Management, L sold 5,160 shares of Dime Community Bancshares stock. The stock was sold at an average price of $42.02, for a total value of $216,823.20.
• On Tuesday, October 27th, Basswood Capital Management, L sold 23,538 shares of Dime Community Bancshares stock. The shares were sold at an average price of $42.51, for a total value of $1,000,600.38.
• On Monday, October 26th, Basswood Capital Management, L sold 16,159 shares of Dime Community Bancshares stock. The shares were sold at an average price of $43.05, for a total value of $695,644.95.
• On Friday, October 23rd, Basswood Capital Management, L sold 90,000 shares of Dime Community Bancshares stock. The stock was sold at an average price of $42.68, for a total value of $3,841,200.00.
• On Thursday, August 13th, Basswood Capital Management, L sold 7,170 shares of Dime Community Bancshares stock. The stock was sold at an average price of $41.40, for a total transaction of $296,838.00.
• On Wednesday, August 12th, Basswood Capital Management, L sold 32,335 shares of Dime Community Bancshares stock. The stock was sold at an average price of $40.96, for a total transaction of $1,324,441.60.
• On Tuesday, August 11th, Basswood Capital Management, L sold 8,674 shares of Dime Community Bancshares stock. The stock was sold at an average price of $40.59, for a total transaction of $352,077.66.
• On Monday, August 3rd, Basswood Capital Management, L sold 20,687 shares of Dime Community Bancshares stock. The shares were sold at an average price of $41.17, for a total transaction of $851,683.79.
• On Friday, July 31st, Basswood Capital Management, L sold 53,000 shares of Dime Community Bancshares stock. The shares were sold at an average price of $40.76, for a total transaction of $2,160,280.00.

Dime Community Bancshares Stock Performance

Shares of DCOM stock traded up $0.44 during trading hours on Thursday, hitting $42.30. The company’s stock had a trading volume of 260,501 shares, compared to its average volume of 318,585. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.57. The company has a 50 day moving average of $40.23 and a 200 day moving average of $37.37. Dime Community Bancshares, Inc. has a 12-month low of $25.63 and a 12-month high of $43.38. The stock has a market cap of $1.87 billion, a PE ratio of 17.92 and a beta of 1.01.

Dime Community Bancshares (NASDAQ:DCOM) last posted its earnings results on Tuesday, October 20th. The savings and loans company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.05. The company had revenue of $135.35 million during the quarter, compared to the consensus estimate of $131.16 million. Dime Community Bancshares had a net margin of 15.15% and a return on equity of 9.12%. During the same period in the previous year, the firm posted $0.59 earnings per share. On average, sell-side analysts forecast that Dime Community Bancshares, Inc. will post 3.06 EPS for the current fiscal year.

Dime Community Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 23rd. Shareholders of record on Friday, October 16th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, October 16th. This represents a $1.00 dividend on an annualized basis and a yield of 2.4%. Dime Community Bancshares’s payout ratio is presently 32.47%.

Hedge Funds Weigh In On Dime Community Bancshares

Several hedge funds and other institutional investors have recently made changes to their positions in DCOM. Benjamin Edwards Inc. increased its position in shares of Dime Community Bancshares by 2.5% during the second quarter. Benjamin Edwards Inc. now owns 17,519 shares of the savings and loans company’s stock worth $712,000 after purchasing an additional 423 shares in the last quarter. Illinois Municipal Retirement Fund lifted its holdings in Dime Community Bancshares by 3.3% in the 1st quarter. Illinois Municipal Retirement Fund now owns 21,219 shares of the savings and loans company’s stock valued at $718,000 after purchasing an additional 683 shares in the last quarter. Nykredit A S purchased a new stake in shares of Dime Community Bancshares during the second quarter worth $35,000. Royal Bank of Canada grew its holdings in shares of Dime Community Bancshares by 11.7% during the first quarter. Royal Bank of Canada now owns 9,311 shares of the savings and loans company’s stock worth $315,000 after buying an additional 979 shares in the last quarter. Finally, Kestra Advisory Services LLC grew its holdings in shares of Dime Community Bancshares by 3.3% during the first quarter. Kestra Advisory Services LLC now owns 40,059 shares of the savings and loans company’s stock worth $1,355,000 after buying an additional 1,296 shares in the last quarter. Hedge funds and other institutional investors own 75.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Keefe, Bruyette & Woods raised their price objective on shares of Dime Community Bancshares from $47.00 to $49.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 21st. DA Davidson set a $50.00 price objective on shares of Dime Community Bancshares in a research report on Thursday, October 22nd. Finally, Piper Sandler reissued an “overweight” rating and set a $47.00 target price (up from $45.00) on shares of Dime Community Bancshares in a research note on Wednesday, October 21st. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.50.

Key Dime Community Bancshares News

Here are the key news stories impacting Dime Community Bancshares this week:

• Positive Sentiment: Dime Community Bancshares declared a quarterly cash dividend of $0.34375 per share on its 5.50% Fixed-Rate Non-Cumulative Perpetual Preferred Stock, Series A. The dividend is payable November 16 to shareholders of record on November 9, providing continued income support for preferred investors. Preferred stock dividend announcement
• Positive Sentiment: The company’s latest quarterly results remain a supportive backdrop: earnings of $0.91 per share exceeded the $0.86 consensus estimate, while revenue of $135.35 million also topped expectations. Earnings rose from $0.59 per share in the year-earlier quarter.
• Positive Sentiment: Analysts remain constructive following the earnings report. Piper Sandler raised its price target to $47, Keefe, Bruyette & Woods lifted its target to $49, and DA Davidson set a $50 target. The consensus rating is “Moderate Buy,” with an average price target of $45.50.
• Neutral Sentiment: DCOM is trading near its 52-week high and above its 50-day and 200-day moving averages, signaling strong momentum but also leaving the stock more exposed to profit-taking.
• Negative Sentiment: EVP Judy Wu sold 887 shares for approximately $37,547, reducing her direct ownership by 18.6%. CTO Michael Fegan and Director Joseph Perry also reported share sales. Individual insider sales can reflect personal financial decisions, but the recent cluster may weigh on sentiment. DCOM insider selling report
• Negative Sentiment: Basswood Capital Management sold 90,000 shares for about $3.84 million on October 23 and another 16,159 shares for about $696,000 on October 26, reducing its reported position by more than 90% overall. The sizable institutional selling is the main near-term negative signal for DCOM.

About Dime Community Bancshares

Dime Community Bancshares, Inc is the bank holding company for Dime Community Bank, a full-service commercial bank serving businesses, individuals and local communities in the New York metropolitan area. The company’s primary markets include Long Island and New York City, with banking offices across Brooklyn, Queens, Manhattan, Nassau County and Suffolk County.

Dime Community Bank provides commercial and residential real estate lending, commercial and industrial loans, construction financing, residential mortgages and consumer loans.